Navigating evolving regulatory requirements: Why businesses need corporate secretaries as strategic advisors
InCorp Singapore provides corporate secretarial professionals who not only ensure compliance but also deliver critical business advisory support
As the fiscal year draws to a close, February and March mark the critical period when most listed companies face their most demanding operational challenges. Many organisations rely heavily on outsourced corporate secretaries to navigate the complex processes involved in preparing annual reports and coordinating shareholder annual general meetings (AGMs).
The consequences can be severe when key liaison officers unexpectedly depart from corporate secretarial support firms. This disruption forces in-house teams into crisis mode, scrambling to interpret and satisfy regulatory requirements with minimal guidance and compressed timelines.
This scenario is not merely hypothetical – it is becoming increasingly common across the corporate landscape.
KG Tan, chief executive officer of InCorp Singapore, An Ascentium Company, says: “The industry’s high attrition rate has raised concerns among companies about the continuity of support.”
Singapore’s regulatory and compliance landscape for listed companies is comprehensive, focusing on corporate governance, transparency and sustainability.
He notes: “While these stringent requirements help uphold Singapore’s reputation as a globally competitive financial hub, companies must remain proactive in adapting to ongoing regulatory changes, particularly in areas like the Singapore Exchange (SGX) listing rules, the Securities and Futures Act, Companies Act and environmental, social and governance compliance. Listed companies especially need consistent updates and touchpoints.”
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Adding to this perspective, Tan Min-Li, partner at CNPLaw, highlights the evolving role of corporate secretarial agents. She says: “Engaging corporate secretarial agents is no longer limited to compliance – it’s also about strategic growth and risk management.
“Working alongside experienced legal professionals, good corporate secretarial agents also act as business advisors who provide clients with the expertise, tools and insights to navigate the complex regulatory landscape, enhance corporate governance and provide the right environment to drive innovation.”
Specialist experts and advanced tools
Having worked with SGX- and dual-listed clients, InCorp has developed specialist knowledge across a variety of sectors, including Fortune 500 companies, government-linked corporations, real estate investment trusts, financial services and fund management companies, among others.
Lee Wei Hsiung, corporate secretarial head at InCorp Singapore, says: “Our team comprises experts who not only have deep regulatory knowledge but also sector-specific insights that are crucial for navigating the unique challenges of these industries.”
These industries include consumer markets, energy and natural resources, financial services, industrial manufacturing, infrastructure, government, healthcare, life sciences and pharmaceutics, private equity, real estate, and technology, media and telecommunications.
“We work very closely with our strategic partners like the law firms, auditors and corporate finance professionals to deliver desired outcomes for our clients,” says InCorp’s Tan.
“InCorp consultants not only tackle current challenges, but also help clients anticipate future ones by holding timely seminars. Legal, finance and audit experts keep InCorp’s customers abreast of the latest regulatory changes and industry best practices,” he adds.
Priscilla Ng, chief financial officer (CFO) of New Toyo International Holdings notes: “The seminars organised by InCorp Singapore are pivotal learning experiences that equip us with the knowledge needed to navigate the complexities of our industry’s regulations. Their focus on delivering relevant and actionable insights is valuable.”
With 15 years of experience catering to the complex needs of public companies, InCorp has specialised units to help these clients meet requirements like AGM preparations and investor communication.
InCorp has also invested in a blend of in-house tools and industry-standard applications to aid their clients. For example, it has tapped on artificial intelligence to record and accurately transcribe meeting minutes from shareholder meetings, which can involve thousands of attendees.
InCorp, which has over 1,500 staff across nine markets in Asia-Pacific, has also used robotic process automation to automate repetitive manual tasks, ensuring that its employees can focus on meaningful client interactions where human judgment and relationship management add the most value.
A responsive partner in a fast-moving world
Delays in response time can be frustrating – especially during tight reporting timelines. InCorp understands how its clients often require speedy answers and prompt action.
“Clients’ queries will always be responded to within the next working day and if there is anything urgent, we will always strive to reply immediately. Clients can also reach out to us on our mobile should there be anything urgent,” says Lee, who is a veteran in the corporate secretary services sector.
Clients have noted the value of the corporate service provider’s timely communication and responsiveness. “InCorp has been instrumental in keeping us informed about the latest regulatory changes,” says Lee Li Huang, CFO of PropNex. “Their timely updates and clear communications ensure that we are always ahead of compliance issues, allowing us to focus more on our core business activities.”
Switching service providers can be daunting, but InCorp aims to make the process straightforward. Its transition framework for onboarding new clients is designed to minimise disruption.
The process includes an in-depth audit of previous records and compliance status. InCorp also liaises with the outgoing secretary to ensure a smooth handover of the relevant documentation and organisational knowledge.
Throughout the transition, InCorp involves key stakeholders to establish communication channels and better understand their operational needs. “This proactive approach ensures that from day one, our clients experience continuity and attention to detail,” says InCorp’s Lee.
Learn more about InCorp Singapore, An Ascentium Company, and its services here.
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